A magnetic display panel that excels in display and erasure performance, being free from any change of writing and display performance even upon repetition of display and erasure and that facilitates inhibition of thixotropic property and specific gravity control for dispersion medium vs. magnetic display substance, etc., ensuring low toxicity and low pollution. In particular, a magnetic substance display panel comprising a dispersion with yield value composed mainly of a magnetic display substance, water and an aqueous thickener and a support holding the dispersion, characterized in that the aqueous thickener is at least one member selected from among a crosslinked acrylic acid copolymer, a crosslinked maleic anhydride copolymer, a thickening polysaccharide and a polyvinylalkylamide.